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Author: Olga Rastrigina and Anna Zasova, BICEPS. For a country of its size, Latvia was mentioned in the last decade’s macroeconomic discourse remarkably often: first, for its exceptional growth up to 2007, then – for a dramatic GDP contraction in the aftermath of the 2008 financial crisis, and for the so-called “internal devaluation” policy that [...]

Authors: Tālis J. Putniņš and Arnis Sauka, BICEPS This policy brief summarises the results and implications of a recent study of the size and determinants of the shadow economies in Estonia, Latvia and Lithuania. The results suggest that the shadow economy in Latvia in 2010 is considerably larger than in neighbouring Estonia and Lithuania. While [...]